HUGE $CAT BOUNCE this morning I gave the signal t
Post# of 474
Posted On: 10/22/2012 10:03:07 AM
HUGE $CAT BOUNCE this morning
I gave the signal to exit the full CAT position on Friday. Today it opened gap down with a pierce of 82.50 but as of 10:00 has bounced for over 2 dollars a share. I took a day trade for a big gain on this position and am done trading for the day.
This is why you cover your positions folks. I suspect that a lot of people stayed short if not continued to short the lows on Friday and with the gap down this morning, more people jumped on board. Wrong move.
The stock got reversed and you are seeing a short squeeze this morning which could very well revisit the 50 DMA as it is threatening the 20 DMA at this moment.
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